GBP/USD: pound may go lower
Technical levels: support – 1.3850; resistance – 1.3950.
Trade recommendations:
- Buy — 1.3900/20; SL — 1.3880; TP1 — 1.4050; TP2 — 1.4100.
- Sell — 1.3880; SL — 1.3900; TP1 — 1.3750; TP2 — 1.3680.
Reason: narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the prices are on Senkou Span B’s support, but the Bears have a strength.